Alabama lawmakers gave final approval to a tax rebate for Alabama taxpayers tonight, passing a bill that will provide $150 for individuals and $300 for couples filing jointly.
A conference committee settled on the amount approved tonight. The rebates will go to taxpayers who filed a state income tax return for 2021 on or before Oct. 17, 2022. The Alabama Department of Revenue will begin issuing the rebates on Nov. 30 of this year. The rebate will be a direct deposit into the bank account that taxpayers included on their state income tax return last year.
If the Department of Revenue does not have bank account information for a taxpayer, it will mail a check for the rebate.The rebates will cost about $393 million. The money will come from a $2.8 billion surplus in the Education Trust Fund. Lawmakers are allocating the rest of the surplus in a separate bill.If you purchase a product or register for an account through one of the links on our site, we may receive compensation.
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